Alabama

Vulcan Materials stock rises on strong earnings

BIRMINGHAM, Alabama – Stock in Vulcan Materials Co., (NYSE: VMC) was up more than 4 percent shortly after the open of trading this morning on news of second quarter earnings bolstered by a recovering economy.

The Birmingham-based provider of construction materials reported that it earned $29 million from continuing operations, or 23 cents per diluted share, on $739 million in revenue. Analysts had expected about 14 cents per share.

In the same quarter a year ago the company lost 13 cents per share, or $18 million, on $694 million in revenue.

CEO Don James said demand increased in key states on growth in residential construction, and that bodes well for the remainder of the year.

"We are encouraged by the continued improvement in the economic and construction-related fundamentals that drive demand for our products,” James said in a prepared statement.